As you probably know now, Google has launched the LG-made Nexus 4, which will run the latest Android 4.2 operating system. If you want one SIM-free, you can grab one from 13 November from £239 directly from Google Play, which should indicate a fairly modest contract price. Not so.O2 has an exclusive for the phone initially, landing on that same 13 November date, with a contract price of £36 per month over 24 months if you want the handset for free. That gets you unlimited calls and texts in the UK, plus 1GB of data.Good deal? Not really, in light of Google's SIM-free price. A quick tot up of the figures points to a total outlay of £864 for that package, contrasting with the SIM-free price of £239, which isn't tied to a network. Get a £10 deal for your phone (at giffgaff, for example), which offers 250 UK minutes, unlimited texts and 1GB mobile internet and we reckon that brings the figure up to £479 for the 8GB phone or £519 for the 16GB handset.That is quite a difference and potential O2 customers have been quick to point this out. Although to be fair to the network, they are offering you the chance to spread out payments for the phone if you can't afford to buy the phone upfront. The higher total is always the downside of this convenience. It isn't just the Nexus 4, even if the situation here is a little more pronounced.As for the phone, if you missed it earlier in the week, it has a 4.7-inch True HD IPS Plus display with 1,280 x 768 resolution and Gorilla Glass 2, a Qualcomm Snapdragon S4 Pro dual-core processor, 2GB RAM, an 8-megapixel rear camera and a 1.3-megapixel front-facing camera.All of that and the new Android OS is available to pre-order now on contract and to pick up in just under two weeks on contract or as a SIM-free phone.